Rio Grande de Norte is Brazil's most popular property destination

Thursday, August 18, 2011

Rio Grande de Norte has been revealed as the most popular destination for property hunters in Brazil.

TheMoveChannel.com has reported that the North Eastern state accounted for 54.6% of all enquiries by overseas investors on the site over the last 12 months. It received double the amount of enquiries than the next most popular destination; the state of Ceara

Neighbouring state Paraiba ranked third most in demand with 5.2% of the 4,266 enquiries, followed by Bahia with 4.6% and Alagoas in fifth place with 4.4%.

Surprisingly, Rio de Janeiro only ranked in 11th place, with just 1% of enquiries.

Investors have been driven to Brazil due to investments in the country's infrastructure and the cheap property prices. 62% of all properties listed on the site are below £25,000, 9.8% of properties are priced between £75,000 and £100,000 and only 5% are above £100,000.

Dan Johnson, MD of TheMoveChannel.com said: ""We have seen the level of interest in property in the North East of Brazil especially rise steadily over the last 12 months with the state of Rio Grande do Norte, home to World Cup host city Natal, clearly in demand. As we approach the 2014 World Cup and indeed the 2016 Summer Olympic Games we expect enquiry levels to increase further."